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Tuesday, December 13, 2011

Today the Oregon Employment Department reported on the November employment situation. Oregon's unemployment rate fell to 9.1 percent in November, from 9.5 percent in October. In a news conference, State Employment Economist Nick Beleiciks described this as the first significant drop in the unemployment rate since the spring, and the lowest rate in three years.

Overall there were 8,000 fewer unemployed people in Oregon in November compared to October, while the number of employed individuals increased by 5,000. Oregon's labor force shrank by roughly 3,000 people over the month as well, contributing to the decline in the unemployment rate.

Meanwhile, the state shed 2,500 nonfarm payroll jobs from October to November, a drop of 1,600 jobs beyond seasonal expectations. On an adjusted basis, the private sector lost 700 jobs over the month, while government employment declined by 900. By industry, the largest job losses occurred in leisure and hospitality (-3,000 jobs) and manufacturing (-2,300). Notable gains occurred in educational and health services (+2,300) and trade, transportation, and utilities (+1,900).Despite the downbeat monthly numbers, Oregon saw a seasonally adjusted gain of 18,900 total nonfarm payroll jobs between November 2010 and November 2011. Private-sector employment rose by 26,400 jobs over the 12-month period. Educational and health services led industry growth with an increase of 10,200 jobs, while government employment declined the most (-7,500).

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